Deals
Altria in Talks to Buy Vaping Startup Njoy for $2.75 Billion, WSJ Reports
- Deal would give Altria a new alternative to cigarettes
- Altria’s break with Juul freed it to pursue other vape deals
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Altria Group Inc. is in discussions to acquire vaping startup Njoy Holdings Inc. for at least $2.75 billion in cash, according to people with knowledge of the situation.
A deal could be announced as soon as this week, said the people, who asked not to be identified because the talks are private. There is also $500 million in follow-up payments if Njoy hits certain regulatory milestones, the people said.